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Author Topic: Crude Records Year’s Biggest Weekly Gain on Iraq Unrest Back to Topics
WxVette
Rookie Author
Omaha

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Message Posted: Jun 14, 2014 2:37:49 AM

West Texas Intermediate and Brent crudes charted the biggest weekly gains this year as Islamist fighters extended their advance in Iraq, triggering concern of a return to civil war.

Futures in New York climbed 4.1 percent this week while they added 4.4 percent in London. Government forces in Iraq, OPEC’s second-biggest oil producer, are seeking to dislodge Islamist militants from cities north of Baghdad after they overran army positions in Mosul this week. U.S. President Barack Obama said yesterday he won’t rule out using airstrikes to help the government.

“Prices have jumped to nine-month highs as the upsurge of violence in Iraq has raised additional risk of supply disruption,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. “The situation in Ira
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REPLIES (newest first) Post a Reply
dandvicb
Champion Author Bridgeport

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Message Posted: Jun 15, 2014 9:13:54 AM

SPECULATORS & WALL STREET GREED!!
ClarkSC
Champion Author South Carolina

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Message Posted: Jun 15, 2014 7:37:54 AM

Any excuse.
VMIJim
Champion Author Alabama

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Message Posted: Jun 15, 2014 6:50:21 AM

Same old crap, different day when it comes to price increase excuses from speculator vultures. Meanwhile, the roller coaster ride of fuel prices under Oblamer continues amid all his lies, coverups, scandals, failed economic & foreign policies, abuses of power, gross incompetence, & major campaign contributions from Big Oil/Utilities. Working class taxpayers continue to be screwed at the pump, with our utilities, & with our taxes while Oblamer pushes his tree hugging, stimulus sucking, union dominated, out of control spending, ultra liberal agenda at our expense. Stop this madness in Nov 14 & start taking our country back before it's too late!
Buickdriver7
Champion Author Ontario

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Message Posted: Jun 14, 2014 9:11:38 PM

North America uses very little oil from Iraq...and there has been no disruption in supply...so why is it affecting North American prices??...just pure speculation and Big Oil Greed!!!
ktbaeohana
Champion Author Las Vegas

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Message Posted: Jun 14, 2014 7:10:48 PM

watch and see.
reidlej
Champion Author Columbus

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Message Posted: Jun 14, 2014 5:29:22 PM

Just another excuse to jack up pump prices!
mwg6275
Champion Author Miami

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Message Posted: Jun 14, 2014 4:32:43 PM

This should put an end to the idea of exporting US oil.
Point__man
Champion Author Raleigh

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Message Posted: Jun 14, 2014 2:39:52 PM

Wonder what the excuse would be without Iraqi problems. I believe local prices rose prior to the Iraqi problems ;)
bwatchingu
Champion Author Arkansas

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Message Posted: Jun 14, 2014 1:44:11 PM

GREED!!Just greed.
Night Owl
Champion Author Toronto

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Message Posted: Jun 14, 2014 12:17:12 PM

More nonsense from greedy oil speculators and their oil futures.
PathfinderSC
Champion Author South Carolina

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Message Posted: Jun 14, 2014 11:58:41 AM

With big oil companies anything goes if it gets the prices up.
c0wb0y
Champion Author Denver

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Message Posted: Jun 14, 2014 11:50:19 AM

Gotta keep that panic premium going.
Yooperheart
Champion Author Michigan

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Message Posted: Jun 14, 2014 11:24:21 AM

Got another planet to fly to?
DLCarpernet
Champion Author Phoenix

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Message Posted: Jun 14, 2014 10:53:32 AM

And it's just getting started . . .
lesabreAZ
Champion Author Phoenix

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Message Posted: Jun 14, 2014 10:45:36 AM

and its only the beginning
PhilMils
Champion Author Virginia

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Message Posted: Jun 14, 2014 10:34:47 AM

Over reaction.

The oil fields in most danger are producing almost nothing currently, although they could do more. That was an Iraqi internal decision. It seems this takeover points to an Iraqi internal decision, too.

It is amazing that Iraq permits a gang of 1,700 people to attempt to take over their country. The US spent several billion ($17b, if I remember correctly) training their military and giving them weapons. Now those same people are discarding their uniforms and simply running, putting up no resistance at all. Now the insurgents have all those US-supplied weapons their military left behind.
deputydog082
Champion Author Detroit

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Message Posted: Jun 14, 2014 10:28:37 AM

excuses for greed
dave27johnson
Champion Author Chicago

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Message Posted: Jun 14, 2014 10:01:39 AM

Of course....
gypsymom3
Champion Author New Jersey

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Message Posted: Jun 14, 2014 9:11:33 AM

ok
MLB2701
All-Star Author Medford

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Message Posted: Jun 14, 2014 8:58:38 AM

Really based on what
Eagle3236
Champion Author Missouri

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Message Posted: Jun 14, 2014 8:48:20 AM

Wow!
doeslayersr
Champion Author Illinois

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Message Posted: Jun 14, 2014 8:35:18 AM

About time to turn the whole region into a glass factory.
gasmeup52
Champion Author Missouri

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Message Posted: Jun 14, 2014 8:28:46 AM

Will this crap never end?
drz614
Champion Author Harrisburg

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Message Posted: Jun 14, 2014 8:25:49 AM

ok
wrunner
Champion Author Virginia

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Message Posted: Jun 14, 2014 8:25:00 AM

The storm amidst the calm.

Expect the worst but hope for the worse.

Prepare to be prepared.
SiebsWI
All-Star Author Wisconsin

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Message Posted: Jun 14, 2014 8:18:13 AM

Based on ???????? wait for it.....Speculation.
scorpiogg
Champion Author Modesto

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Message Posted: Jun 14, 2014 8:15:06 AM

Ok
Fleabite44
Champion Author Maryland

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Message Posted: Jun 14, 2014 8:12:08 AM

There has been unrest in Iraq for months, but the media did little to report it. Did not take a rocket scientist to see this coming. Many military folks predicted this when Obama left no residual force in Iraq.
EnviroChemist
Champion Author Oklahoma

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Message Posted: Jun 14, 2014 8:06:04 AM

There was an article about a week ago that China was currently increasing its stockpile of oil, seems they may have anticipated the upheaval in Iraq. And we all heard Hussein say that Al-Queda was done, so the five prisoners released must have made a big difference.
Evilmaddog
Champion Author British Columbia

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Message Posted: Jun 14, 2014 8:01:49 AM

Can u feel the economy brakes coming on
CarefulDriver
Champion Author Ann Arbor

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Message Posted: Jun 14, 2014 7:51:48 AM

Good article.
Bobmilan
Champion Author Louisville

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Message Posted: Jun 14, 2014 7:50:03 AM

But Obama said it was over, Al-Queda was done and time to swap prisoners???

Sure glad I do not have voting for Obama and lib Congress on my conscience.
ClarkSC
Champion Author South Carolina

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Message Posted: Jun 14, 2014 7:50:01 AM

Keep going.
jjjleblanc
Champion Author Rochester

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Message Posted: Jun 14, 2014 7:49:51 AM

Any excuse will do.
00MrSlate00
Champion Author Illinois

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Message Posted: Jun 14, 2014 7:49:32 AM

If the U.S. is the largest exporter of oil, why are we paying $4 a gallon?
ovillaone
Champion Author Dallas

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Message Posted: Jun 14, 2014 7:46:56 AM

Ok
scu227
Champion Author New Haven

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Message Posted: Jun 14, 2014 7:45:48 AM

Just more SPECULATION, MANIPULATION & GREEEEEEEEEEED !!!!!!!!!
mandoid
Champion Author Alabama

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Message Posted: Jun 14, 2014 7:43:25 AM

I agree humblepie
yardslave
Champion Author Oklahoma City

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Message Posted: Jun 14, 2014 7:42:37 AM

I smell a speculator...
sailor2
All-Star Author Ontario

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Message Posted: Jun 14, 2014 7:40:36 AM

Approve the Keystone XL pipeline already ! Now studied for over 5 yrs.
Wally3023
Champion Author Pennsylvania

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Message Posted: Jun 14, 2014 7:37:33 AM

Good to know. Very informative.
werich44
Champion Author California

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Message Posted: Jun 14, 2014 7:29:46 AM

Oil company greed is pushing this country right into nationalization.
humblepie
Champion Author Toledo

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Message Posted: Jun 14, 2014 7:25:51 AM

our ultra weak foriegn policy sure didnt help
irish15pilot
Champion Author Charleston

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Message Posted: Jun 14, 2014 7:23:07 AM

I agree
Straitliner
Champion Author Illinois

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Message Posted: Jun 14, 2014 7:21:42 AM

I knew this was coming.
VMIJim
Champion Author Alabama

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Joined:Jan 2013
Message Posted: Jun 14, 2014 7:06:06 AM

Same old crap, different day when it comes to price increase excuses from speculator vultures. Meanwhile, the roller coaster ride of fuel prices under Oblamer continues amid all his lies, coverups, scandals, failed economic & foreign policies, abuses of power, gross incompetence, & major campaign contributions from Big Oil/Utilities. Working class taxpayers will continue to be screwed at the pump, with our utilities, & with our taxes while Oblamer pushes his tree hugging, stimulus sucking, union dominated, out of control spending, ultra liberal agenda at our expense. Stop this madness in Nov 2014 & start taking our country back before it's too late!
studandbabe
Champion Author California

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Message Posted: Jun 14, 2014 6:56:03 AM

So much for the promised price drop
Chem60
Champion Author Tallahassee

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Message Posted: Jun 14, 2014 6:36:12 AM

Any excuse will do.
brbaritone
Champion Author Virginia

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Message Posted: Jun 14, 2014 6:25:40 AM

'Excuse of the Week'
MImusicman
Champion Author Michigan

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Message Posted: Jun 14, 2014 6:17:45 AM

Frustrating!
jsfb6pts
Champion Author Michigan

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Message Posted: Jun 14, 2014 5:48:33 AM

This Is this why gas went up overnight .
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